M&S Marketing Plan

This marketing plan evaluates the macro environment analysis of Marks and Spencer, and discusses the strategies and tactics used to launch new food products. It also justifies the value generated by the marketing plan through the implementation of the marketing mix.

M&S Marketing Plan
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
A) Macro Environment Analysis of Marks and Spencer.............................................................3
B) Marketing plan........................................................................................................................5
C) Justification of value generated by marketing plan through implementation of marketing
mix of M&S.................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCE................................................................................................................................10
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INTRODUCTION
Marketing is one of the important activities of organisation that helps in enhancing sales
volume and profitability of firm by influencing large number of customers to make purchase of
particular products to satisfy their needs. Marketer analysis and evaluates various external and
internal environment that may affect on marketing strategies of company. This report is about
Marks and Spencer that is operating is business in UK with number of operation across
worldwide to meet needs of different individual staying across nation. It evaluates various macro
environmental factors from perspective of Ecommerce impact on marketing planning of Marks
and Spencer. Report has also use SOSTAC model to prepare effective marketing plan so that
company can easily launch delicious food products. It has also explained about effective
marketing mix strategies of M&S that will promote growth and expansion of firm.
A) Macro Environment Analysis of Marks and Spencer
The macro environment of Marks and Spencer’s e-commerce operations can be done by
performing the PESTLE analysis for its online operations, which detail the various political
economical, social, technological, legal and environmental factors that can influence and have an
impact on their digital operations with regards to their marketing strategy. The PESTLE analysis
for ecommerce operations of Marks and Spencer is as follows:
Political Factors: There are numerous political factors that can influence the operations of
Marks and Spencer’s online operations. The most prominent of political factors that can have a
significant impact on all operations of Marks and Spencer in addition to their ecommerce
operations is that of Brexit. Though the exact changes to government mandated policies and laws
post Brexit still aren’t made clear to the public and are contentiously debated upon by analysts
and economists, when implemented they are going to have a massive impact on the international
trading operations of Marks and Spencer (Racz and et.al., 2018). Post Brexit laws will be more
transparent and clear as opposed to the current complex and opaque laws, easing the trading
operations and efforts of Marks and Spencer, which will also have a positive impact on Marks
and Spencer’s ecommerce operations, allowing Marks and Spencer’s marketing strategy to
include additional international goods and services increasing their attractiveness in consumer’s
perceptions.
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Economical Factors: The most prominent economical factor is the reduction announced by the
UK government in relation to the corporate tax levied on a business. The UK government has
recently announced a reduction to the corporate taxes charged on a business organisation’s
overall profits from 19% to 18% being implemented into action after April 2020. This can have
immensely positive impact on all operations of Marks and Spencer in addition to their
ecommerce operations as it would allow Marks and Spencer to generate greater number of
profits by effectively paying less amounts of taxes to the UK government than they did prior to
the economic reform, even though the number of customers that Marks and Spencer service in
the retail markets of UK stays the same as their last fiscal year. This increased profitability can
allow Marks and Spencer to invest into their marketing strategy, budget and plans allowing for
more marketing tools to be used by the marketers of Marks and Spencer through both traditional
and digital channels of marketing. Marks and Spencer can also use its additional profits to
Social Factors: The current social trend to emerge out of the widespread adoption of the internet
by an always increasing population of the UK which relates to the increasing appeal and
convenience making customers of the retail markets of UK switch towards making all their
transactions exclusively through the digital stores of retail businesses can have immensely
positive impact on the productivity and profitability of Marks and Spencer’s ecommerce
operations (Perera, 2017). Through this social trend, as more and more consumer in the retail
markets of UK are choosing to opt for digital shopping instead of traditional marketplaces, it
effectively has an immensely positive impact on the ecommerce operations of Marks and
Spencer, as it allows for them to capture an uncaptured market, which is consistently increasing
in size. This increased customer base of ecommerce operations of Marks and Spencer has an
immensely positive impact on their overall productivity and profitability in the consumer
markets. The marketing strategy of Marks and Spencer has to include and place focus on its
ecommerce operations to attract as many customers to their digital stores as possible allowing
them to increase their market share, customer base, productivity and profitability.
Technological Factors: There are also numerous technological factors that can have an impact
on ecommerce operations of Marks and Spencer most prominent being the advancement and
sophistication of encryption algorithms that Marks and Spencer can make use of to protect and
secure the privacy of their operational and customer data (Rastogi and Trivedi, 2016). The
marketing strategy of Marks and Spencer must include the numerous ways they offer to protect
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the privacy and security of their customer’s data to effectively attract them to Marks and
Spencer’s operations.
Legal Factors: Several legal factors can have an impact on Marks and Spencer’s ecommerce
operations such as the changes to the GDPR which regulates ways through which Marks and
Spencer stores, protects and shares their private confidential operational and customer data.
Environmental Factors: Changes to environmental laws by which Marks and Spencer’s
ecommerce operations procure their needed raw materials can negatively impact their
productivity and profitability in the retail markets of UK, which would effectively decrease the
budget for their marketing operations.
B) Marketing plan
It is formulated by marketing manager of M&S to effective launch new, innovative,
delicious food products for large number customers. Marketing manager of M&S state that it is
more than food products as it is food products of M&S so it has effectively analysis changes in
customer taste, preference so that innovative marketing plan can be formulated to earn maximum
amount of profitability (Thabit and Raewf, 2018). Therefore marketing plan of M&S can be
explained through use of SOSTAC model such as:
Marketing Plan
SITUATIONAL ANALYSIS
M&S have wide product portfolio and know for manufacturing qualitative products and services
so that customers needs can be satisfied. Therefore strength of company lies in its products and
service that helps M&S to gain competitive advantages in retail industry. On the other hand in
effective management of people and use of absolute technologies has impact on overall brand
image of firm so M&S has decided to launch tasty, delicious food products. Company has
opportunities to expand its business through marketing its product by use of social media and
increase presence in social site of firm (Sulehri and Ahmed, 2018). Increasing competition is one
of the leading threat that impact company operation so M&S by innovating its food range able to
protect itself from various threats. Power of supplier is low where as customer have more power
so M&S has decided to manufacture products at reasonable rates in order to grow and sustain
within industry. M&S has reduced threat of new competitors and existing competition level by
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making improvement in food products of M&S.
OBJECTIVES
Marketing manager of M&S has set various objective that company want to achieve my making
changes and improvement in quality of food products such as:
1. To retained and attract existing as well as new customer range for growth and expansion
of enterprise.
2. To provide best qualitative products and services so that needs of customers can be
satisfied beyond their expectancy (Türk and Erciş, 2017).
3. To continuously add value in food products so that customers are ready to pay extra
amount of money for buying particular services.
4. To use digital technology and social media to market products of M&S and get quick
feedback from customers so that various improvement can be made within limited.
5. To promote growth and expansion of M&S for long term by continuously innovative its
products and technologies as per customer taste and preference.
STRATEGY
Marketing manager of M&S has formulated effective strategies in advance so that company can
be easily achieve its objective and gain maximum market share. Marketing manager has
segmented, targeted, positioning its new food products among customers so that company can
easily operate its various function (Ahmad, Khan and Baig, 2017). M&S has segment people on
basis of demographical, geographical and psychological characteristics in order to launch
delicious food for customers. Marketing manager has targeted kids, children and young, adult
people for delicious food products range of Marks and Spencer. Use of social sites, delicious
taste of food products have helped marketer to easily position company brand image and quality
of products in mind and heart of customers.
TACTICS
It explains the exact way M&S would able to market its new food products range to large
number of customers so marketing manager has use marketing mix tool to effective plan various
step to attract maximum number of customers. Therefore marketing mix strategy of M&S is as
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follows:
Marketing mix strategy: It is powerful and innovative tool that is used by marketing manager
of M&S to promote its products and services to wide range of customers in order to earn high
profit margin (Efanny and et.al., 2018). Such as:
Products: Marks and Spencer is well known for its qualitative products and services at the same
time company is planning to launch new food products in order to build strong brand image
within market. Improvement in products has helped company to meet needs and demand of
unsatisfied customers and expand its market share.
Place: Manager has decided to provide product to customer through both offline and online
systems such as people can easily come to stores to enjoy qualitative food products of company.
It has also planned to provide online delivery service to customers so that they can easily select
products while staying at their home.
Price: Marketing manager of M&S has decided to set reasonable price of food products so that
customers of UK can easily afford delicious and tasty food to satisfy their needs and
requirements.
Promotion: Company will promote its products through personal selling, advertisement in
newspaper, social media and personal selling through training and motivating employees to
provide best services to customers.
Physical distribution: Marketing manager has decided to build strong relationship with supply
chain and distributors so that products can be delivered to customers within limited time and cost
(Grădinaru, Toma and Marinescu, 2016). Establishment of various warehouses is another
strategy of M&S so that raw material and finished products can be effective stored to meet
demand of customers.
Process: Standardisation of process that need to be performed by each employee within firm
helps in effective implementation of marketing strategies and achievement of company goals.
People: M&S have large number of employees with different skills and knowledge thus
qualitative services can be delivered to customers for growth and expansion of firm.
ACTION: Various step and action that need to be taken by employees of company are clearly
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defined so that individual can easily perform different function and activities. Effective
management of talent employees and standard process helps company to gain its predetermined
objectives.
CONTROL: Information technology and continuous supervision from top manager of various
department of company helps in controlling and monitoring function of different individual.
Thus, various corrective action can be taken within limited time for effectiveness of marketing
strategies and growth of organisation.
C) Justification of value generated by marketing plan through implementation of marketing mix
of M&S
As per above marketing plan of M&S various marketing tool that are used by manager of
company to influence customers to make purchase of company products and services (Siakalli,
Masouras and Papademetriou, 2017). It can be stated that marketing plan of M&S is effective
and value generating by analysing marketing mix tool that is used by firm to attract customers.
Such as:
Products: M&S has decided to launch not just food products but food of M&S that means it is
planning to make innovative changes in taste of products so that needs of each individual can be
satisfied in effective manner.
Price: Company has also plan to offer products at reasonable rates as due to Brexit people are
less interest to pay high prices so such strategy of M&S helps in inducing customers to make
purchase.
Place: Company by deciding to sell product through online has influenced large number of
younger generation to purchase products of M&S as they can easily order food at their doorsteps.
Promotion: Social media is an effective method to promote products and services to large
number of customer within limited efforts, cost and time (Anusha, 2016). M&S can easily
enhance its sales volume and profitability as social media is used by each and every individual so
it is best method to promote food products of firm.
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People: M&S have highly skilled, talented and experienced employees thus it helps in rendering
qualitative services and products to customers (Mujiyanti and et.al., 2019). Employees are highly
satisfied and motivated with company environment and feel proud to work in such as
organisation thus it help in effective utilisation of their capabilities so that needs of people can be
meet.
Process: Marketing manager by planning in advance roles, responsibilities, process that need to
be followed by each individual to accomplishment particular task. Therefore it can be analysed
that standardisation of process and clarification of roles has promote smooth operation of
business and marketing strategies of M&S.
Physical distribution: Strong network and availability of warehouse at different location has
help company to delivery products and services to maximum customers within limited time thus
providing best customer experience.
CONCLUSION
It can be concluded that marketing strategy of M&S has helped in growth and expansion
of M&S within retail industry. Marketing manager by considering various macro factors of M&S
that impact marketing plan of E-commerce has help firm in effective formulation of various
strategies. At last it can be stated that Marketing mix is used to evaluates effectiveness of
implementation of marketing plan of M&S.
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REFERENCE
Book and journals
Ahmad, F., Khan, A .A. and Baig, M. M., 2017. Weighting of marketing mix elements using
fuzzy analytic hierarchy process and area based ranking of fuzzy numbers. NED
University Journal of Research, 14(2). pp.35-46.
Anusha, K. S., 2016. Brand a marketing mix: a review. Journal of Global Economics, 4(3). pp.1-
4.
Efanny, W and et.al., 2018. The relationship between marketing mix and retailer-perceived brand
equity. IMP Journal.
Grădinaru, C., Toma, S. and Marinescu, P., 2016. Marketing mix in services. Ovidius”
University Annals.
Mujiyanti, S. A and et.al., 2019. MARKETING MIX STRATEGY AND CONSUMER
SATISFACTION IN THE DIGITAL AGE. MARKETING, 2(7).
Siakalli, M., Masouras, A. and Papademetriou, C., 2017. e-Marketing in the hotel industry:
marketing mix strategies. In Strategic Innovative Marketing (pp. 123-129). Springer,
Cham.
Sulehri, N. A. and Ahmed, M., 2018. Mr Connenting Retail Marketing Mix and Trust in store
with purchase behavior in developing country: A mediated role of Purchase
intention. Asia Proceedings of Social Sciences, 2(3). pp.96-100.
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies, 4(4).
Türk, B. and Erciş, A., 2017. 4A marketing mix impacts on organic food purchase
intention. Serbian Journal of Management, 12(2). pp.189-199.
Racz, L. and et.al., 2018. Extensive comparison of biodiesel production alternatives with life
cycle, PESTLE and multi-criteria decision analyses. Clean Technologies and
Environmental Policy. 20(9). pp.2013-2024.
Perera, R., 2017. The PESTLE analysis. Nerdynaut.
Rastogi, N.I.T.A.N.K. and Trivedi, M.K., 2016. PESTLE technique–a tool to identify external
risks in construction projects. International Research Journal of Engineering and
Technology (IRJET). 3(1). pp.384-388.
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